The leadership and members of Imo State Amalgamated Market Traders Association (ISAMATA) have commended the Governor, Senator Hope Uzodinma for his support and commitment to the acquisition of a large expanse of land and construction of an estate for Imo traders to enable them own their own houses at affordable and stress free terms.
They also assured the governor of their unalloyed support and loyalty, promising to partner with the state government in its determination to dispense the dividends of democracy to the people and fast track socio-economic development of the state.
The Orlu zonal chairman of ISAMATA who also doubles as ISAMATA Estate Project committee, Hon Mgbemere Udoka stated this while explaining the modalities of the project in a chat with Nigeria Watchdog Newspaper, yesterday.
He stated that ISAMATA has reached an understanding with the Federal Mortgage Bank to finance construction of the estate which is aimed at ensuring that interested Imo traders own houses of their own in the town at affordable terms.
According to Udoka, the traders are expected to pay the sum of two thousand, five hundred naira (2,500) each for six months after registering with the sum of one thousand naira in addition to #100,000. While Federal Mortgage bank will grant loans of between ten and fifteen million naira each depending on the size of the house. “There are two bedroom, and three bedroom bungalows, adding that it depends on the income and status of the trader in question and what he needs.
When the building is completed, the traders will be expected to pay ten percent of the total cost to take possession and then pay the balance over a period of 30 years.
Responding to a question, Hon Udoka posited that non traders who are interested in the juicy deal are expected to pay a registration fee of two hundred and fifty thousand naira (N250,000) and then participate in the other processes.
He also assured that the estate will be completed before the end of next year, pointing out that ISAMATA has acquired a large expanse of land at a point between Irette and Okuku, IN Owerri West LGA less than 20 minutes drive from Owerri. “The proposed estate can be accessed through Port Harcourt road, World Bank housing estate/ Umuguma, Irete etc. Through the link roads are presently in very bad state, ISAMATA has engaged a contractor to put them in order.”
He advised traders in the state to avail themselves of the life time opportunity and also continue to support the programs and policies of the 3R government which has shown the capacity and zeal to better the lot of Imo people especially the traders.